Bangladesh exploring Middle East market for export

Published 06 Nov,2021 via The Financial Express - The Middle East region comprising well over a dozen states - often believed to be a potential market of Bangladeshi products - is yet to become what it could be. Although Bangladesh has been exporting to the countries in the region for some time now, the value and volume of export appear to be way behind its ability. No doubt, one of the main features of these markets that should have made it a target destination of scores of products is the migrant population from Bangladesh living in those countries as well as those from the subcontinent whose consumer tastes and preferences are more or less like those of the Bangladeshis. According to observers, lack of market exploration and methodical research come in the way of developing a roadmap for sustained export marketing.

Basically, Bangladesh's export basket for the ME region has not changed much over the decades. Fresh and frozen fish, vegetables, spices, chemicals, jute products, apparels, pharmaceuticals constitute the bulk of the export list. There is no bilateral or regional trade agreement with these countries which many feel is the reason why the volume of export has not increased up to the expected level. Besides, Bangladeshi exporters often face non-tariff barriers as export is done in a disorganised manner.

The issues were raised at a webninar held in the capital last week where speakers emphasised the need for a roadmap for increased market access to the region. The webinar titled "Shaping Business Landscape: Economic Cooperation of Middle East and Bangladesh" jointly organised by the Ministry of Commerce and Dhaka Chamber of Commerce and Industry (DCCI) focused on exploring the Middle Eastern markets, diversifying RMG products, and increasing greater access of halal food and fresh vegetables.